Kentucky Retirement Systems Sells 1,064 Shares of General Motors (NYSE:GM)

Kentucky Retirement Systems decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,235 shares of the auto manufacturer’s stock after selling 1,064 shares during the period. Kentucky Retirement Systems’ holdings in General Motors were worth $4,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GM. Foundations Investment Advisors LLC increased its position in shares of General Motors by 2.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 13,212 shares of the auto manufacturer’s stock worth $592,000 after purchasing an additional 292 shares during the last quarter. Eastern Bank bought a new position in shares of General Motors in the third quarter valued at $34,000. Commerzbank Aktiengesellschaft FI increased its holdings in General Motors by 29.1% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 8,162 shares of the auto manufacturer’s stock worth $366,000 after buying an additional 1,838 shares during the last quarter. International Assets Investment Management LLC raised its position in General Motors by 4,826.5% during the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock worth $24,629,000 after acquiring an additional 538,112 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in General Motors by 86.9% during the third quarter. Assenagon Asset Management S.A. now owns 569,633 shares of the auto manufacturer’s stock worth $25,542,000 after acquiring an additional 264,880 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

Shares of NYSE:GM opened at $46.31 on Friday. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company’s 50 day moving average price is $50.68 and its two-hundred day moving average price is $50.16. The firm has a market cap of $46.07 billion, a PE ratio of 7.53, a PEG ratio of 0.67 and a beta of 1.40. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Analyst Ratings Changes

GM has been the topic of several recent analyst reports. UBS Group boosted their price objective on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their price objective on General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.71.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.